A popular NFT marketplace, Magic Eden, has developed dramatically, and is launching an Ethereum Marketplace with some of the industry’s greatest collections.
Being a top NFT marketplace, Magic Eden is swiftly rising to prominence. Via collaborations, events, and launchpad options, the platform has substantially grown and changed since its first Solana debut. Magic Eden is now focused on launching an Ethereum Marketplace with some of the best collections in the industry following the successful debut of its dedicated Bitcoin NFT segment.
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On Wednesday, March 29, leading cross-chain NFT platform Magic Eden announced the beta launch of its Ethereum Marketplace, ETH Genesis. Ten new Ethereum collections will be available for purchase on the new market’s official website starting on April 6.
The new platform is part of Magic Eden’s effort to growing its creator and holder base. After , Polygon, and Solana, Ethereum will be the most recent network to be supported. It will pay royalties for native collections, unlike OpenSea and Blur, which discourage producers.
Magic Eden’s COO and co-founder Zhuoxun Yin revealed:
“We’ve always respected Ethereum as the largest, most established community for NFTs. We bring a proven ability to partner with creators as the only NFT platform that has launched 400+ projects and raised over $120M for creators. We also have a team of shippers that can move nimbly. We think our strengths will continue to serve the growth of ETH’s NFT ecosystem. In the spirit of iteration, we’re going to start making inroads with our own marketplace and dedicated launch partners, and grow from there.”
To commemorate the launch of the Ethereum marketplace, Magic Eden is collaborating with notable projects in the ecosystem, such as Hashflow, CNWAFUKU, KaijuKingz, Realm Hunter, The Space Club, McPepe’s, Blocky Doge 3.0, Freakz by Subber, Shrapnel, Magna, ZTX, Serial Experiments Lain, and Code Name: Stardust.
The NFT marketplace will temporarily increase its partners’ royalties and split money from marketplace fees with them.
On the other hand Up until the first week of April 2023, Magic Eden will provide a number of free mints for more than a dozen Web3 gaming projects as part of the March Madness promotion.
In comparison to the typical 5% to 10% cut, rival marketplace Blur charges a minimum creator royalty fee of 0.5%.
To compete with Blur, OpenSea temporarily waived all fees.
By offering creator-friendly items, Magic Eden has established itself as a valuable resource for the NFT, metaverse, and Web3 gaming communities. By offering them numerous advantages, the site aims to help its creators and collectors.
